UAE property firm invests in Malaysia

Abu Dhabu-based real estate firm Tasweek Real Estate Development has inked a joint venture agreement with Casabrina Vacation Villas in Malaysia to develop, own, operate and market the luxury resort’s properties, the company said in a release.

Tasweek said it will market nine boutique villa hotels in a resort at the foothills of Bukit Frasier in Pahang, the largest state in West Malaysia, just one hours drive from Kuala Lumpur. Each villa offers investors a Balinese design complete with approved building plans and occupies between one and three acres of freehold hill side land with no restrictions on foreign ownership, Tasweek said.

Tasweek will also offer a special promotion packages to attract GCC tourists who want to stay in the villas.

“Our venture with Casabrina Vacation Villas enables us to have a direct hand in overseeing and promoting this captivating Malaysian development,” said said Masood Al Awar, CEO, Tasweek Real Estate Marketing and Development.

“Interest among Middle Eastern buyers is quite high, which is why we decided to have a greater stake in the villas. We also expect to gain broader insights on the mechanics of the booming Malaysian real estate sector by becoming a more active domestic market player,” he added.

The venture is part of Tasweek’s new $250 million property portfolio that is expected to generate an annual investment yield of 5 to 7 per cent.

Abu Dhabu-based real estate firm Tasweek Real Estate Development has inked a joint venture agreement with Casabrina Vacation Villas in Malaysia to develop, own, operate and market the luxury resort’s properties, the company said in a release.

Tasweek said it will market nine boutique villa hotels in a resort at the foothills of Bukit Frasier in Pahang, the largest state in West Malaysia, just one hours drive from Kuala Lumpur. Each villa offers investors a Balinese design complete with approved building plans and occupies between one and three acres of freehold hill side land with no restrictions on foreign ownership, Tasweek said.

Tasweek will also offer a special promotion packages to attract GCC tourists who want to stay in the villas.

“Our venture with Casabrina Vacation Villas enables us to have a direct hand in overseeing and promoting this captivating Malaysian development,” said said Masood Al Awar, CEO, Tasweek Real Estate Marketing and Development.

“Interest among Middle Eastern buyers is quite high, which is why we decided to have a greater stake in the villas. We also expect to gain broader insights on the mechanics of the booming Malaysian real estate sector by becoming a more active domestic market player,” he added.

The venture is part of Tasweek’s new $250 million property portfolio that is expected to generate an annual investment yield of 5 to 7 per cent.